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Grayscale Bitcoin Trust

650 hedge funds and large institutions have $1.67B invested in Grayscale Bitcoin Trust in 2026 Q1 according to their latest regulatory filings, with 52 funds opening new positions, 122 increasing their positions, 255 reducing their positions, and 124 closing their positions.

New
Increased
Maintained
Reduced
Closed

496% more call options, than puts

Call options by funds: $130M | Put options by funds: $21.8M

0.25% less ownership

Funds ownership: 6.42%6.18% (-0.25%)

11% less funds holding

Funds holding: 734650 (-84)

26% less capital invested

Capital invested by funds: $2.24B → $1.67B (-$578M)

33% less funds holding in top 10

Funds holding in top 10: 1510 (-5)

52% less repeat investments, than reductions

Existing positions increased: 122 | Existing positions reduced: 255

58% less first-time investments, than exits

New positions opened: 52 | Existing positions closed: 124

Holders
650
Holders Change
-84
Holders Change %
-11.44%
% of All Funds
8.01%
Holding in Top 10
10
Holding in Top 10 Change
-5
Holding in Top 10 Change %
-33.33%
% of All Funds
0.12%
New
52
Increased
122
Reduced
255
Closed
124
Calls
$130M
Puts
$21.8M
Net Calls
+$108M
Net Calls Change
-$80.8M
Name Holding Trade Value Shares
Change
Change in
Stake
HKAM
1
Horizon Kinetics Asset Management
New York
$739M -$6.47M -108,711 -0.8%
LPL Financial
2
LPL Financial
California
$47.9M -$4.1M -68,874 -7%
HighTower Advisors
3
HighTower Advisors
Illinois
$32.4M -$375K -6,290 -1%
GWM
4
Greenwich Wealth Management
Connecticut
$31M -$60K -1,008 -0.2%
ML
5
MSRH LLC
New York
$22.1M -$146K -2,458 -0.6%
Susquehanna International Group
6
Susquehanna International Group
Pennsylvania
$21.5M -$6.8M -114,172 -22%
MRI
7
Mad River Investors
Massachusetts
$19M -$18.8K -315 -0.1%
ECM
8
EagleClaw Capital Management
Massachusetts
$18.8M +$1.37M +22,950 +7%
Wealthfront Advisers
9
Wealthfront Advisers
California
$18M -$808K -13,569 -4%
MC
10
Moors & Cabot
Massachusetts
$16.4M -$246K -4,126 -1%
VA
11
Vident Advisory
Georgia
$16M +$18M +301,600 +20,107%
VF
12
Virtu Financial
New York
$14.9M +$13.5M +227,247 +409%
KWA
13
Kingswood Wealth Advisors
California
$14.8M -$231K -3,875 -1%
OCPWS
14
One Charles Private Wealth Services
Massachusetts
$14.6M -$95.9K -1,611 -0.6%
Jane Street
15
Jane Street
New York
$13.9M +$14.3M +240,831 +1,041%
BFA
16
Beaumont Financial Advisors
Massachusetts
$13.7M -$758K -12,733 -5%
Cambridge Investment Research Advisors
17
Cambridge Investment Research Advisors
Iowa
$13.4M -$396K -6,656 -3%
CAM
18
Cresset Asset Management
Illinois
$12.9M -$11.4K -192 -0.1%
Focus Partners Wealth
19
Focus Partners Wealth
Massachusetts
$11.4M -$276K -4,628 -2%
Mariner
20
Mariner
Kansas
$9.86M +$818K +13,732 +8%
Commonwealth Equity Services
21
Commonwealth Equity Services
Massachusetts
$9.43M -$1.71M -28,660 -14%
Cetera Investment Advisers
22
Cetera Investment Advisers
Illinois
$9.21M -$625K -10,499 -6%
Lido Advisors
23
Lido Advisors
California
$8.73M +$368K +6,174 +4%
FA
24
Fiduciary Alliance
South Carolina
$8.53M +$705K +11,845 +9%
RC
25
RBF Capital
California
$7.91M